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The latest news from Wall St. to Silicon Valley. Informative, witty, and everything you need to start your day. ☕️
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Sep 5 10 tweets 2 min read
1/ The US yield curve slope has been an indicator for most recessions since WWII.

Yesterday, the longest US yield curve inversion ever ended.

Let's get into what that means. Image 2/ An inverted yield curve (when short-term yields are higher than long-term yields) typically indicates a looming recession.

But you'll often see the yield curve disinvert just before a recession. Image
Aug 8 12 tweets 3 min read
1/ So far, Team USA is leading with 103 medals at the Paris Olympics.

Yet some of the elite athletes bringing home gold, silver, and bronze in Paris went into the red just for the opportunity to be there.

Let's get into it. Image 2/ At this rate, Team USA may very well surpass the 113 medals won at the 2020 Tokyo Games.

Simone Biles became the most decorated Olympic gymnast, Katie Ledecky took home the most medals for a female Olympian, etc.
Aug 5 12 tweets 3 min read
1/ It's absolute carnage out there right now.

Yen trade is unraveling. Bank of Japan is raising interest rates. Unemployment is up. Emergency rate cut? Brokerages going down left and right.

Let's get into it. Image 2/ The stock market crashed today with the Nasdaq 100 dropping almost 6%.

But the trouble started in Japan. Image
Aug 2 14 tweets 3 min read
1/ Americans spent $119.84 billion last year on sports betting.

But what was once a fun little way to raise the stakes with your favorite team has led to loan sharks and bankruptcy for many.

Let's get into it. Image 2/ In 2018, the US Supreme Court struck down a law that prohibited sports betting.

Since then, 38 states have legalized it and a portion of those state populations have gotten way in over their heads. Image
Jul 22 13 tweets 3 min read
1/ Sam Altman gave low-income people $1,000/month for three years, no strings attached.

Now, the results of one of the largest guaranteed-basic-income studies are in.

Let's get into it. Image 2/ Back in 2019, 3,000 Texas and Illinois residents were enrolled in this guaranteed-basic-income study.

The experiment was funded by Sam Altman, who raised $60 million for the study ($14 million of which was his own money).
Jul 10 10 tweets 2 min read
1/ AI? Intuit is into it.

So into it, in fact, it announced layoffs of 1,800 workers to make room for...1,800 new workers with a focus on generative AI.

Let's get into it. Image 2/ None of us are strangers to news of tech layoffs at this point, but this round is a bit different.

Seldom do companies let go of employees en masse for non-cost-cutting purposes just to hire about the same number of workers back.
May 21 10 tweets 3 min read
1/ Scarlett Johansson is taking on OpenAI.

The actress hired legal representation after the AI company created a ChatGPT voice that was "eerily similar" to her own.

This isn't her first time going against a huge corporation, though, and winning.

Let's get into it. Image 2/ ScarJo is no stranger to voice acting.

The 2013 film "Her" used her voice for the AI program, Samantha.

Which is probably why Sam Altman wanted her to record for a GPT-4o voice. Image
Apr 19 12 tweets 3 min read
1/ Boomers own twice as many large US homes as millennials right now (per Redfin).

And they aren't moving.

It's caused the housing market to become more stuck than it's been in decades.

Let's get into it. Image 2/ Around 28% of all homes with 3 or more bedrooms are owned by people:

1. Aged between 60-78 years old
2. Living by themselves or with a partner

AKA empty nesters
Mar 27 9 tweets 3 min read
1/ The Port of Baltimore is responsible for $15 million in economic activity every day.

And the Francis Scott Key Bridge collapse has it closed until further notice.

But what is the economic fallout from losing this key East Coast trade artery?

Let's get into it. Image via Getty 2/ Besides the loss of life and property, the bridge collapse is an economic nightmare.

"The railroads, the trucking industry, the regional distribution centers, commuters, and other segments of the economy," are all being affected, economist Anirban Basu told Business Insider.
Mar 8 11 tweets 3 min read
1/ Youtuber @MKBHD recently tested Fisker's latest EV and called it the "worst car I've ever reviewed."

The video has picked up 4.3 million views since he posted it and even reached execs at the company.

But things got really weird when Fisker responded. Let's get into it. Image via Auto Focus 2/ Brownlee had initially asked Fisker to give him a vehicle to review, but they kept delaying.

Tired of jumping through hoops, he found a car dealer willing to let him borrow one.
Feb 23 8 tweets 2 min read
1/ Google has halted its Gemini AI image generator due to historical and racial inaccuracies.

The AI was "missing the mark," per a company statement, after users came forward citing results like Nazi-era German soldiers being depicted as people of color.

Let's get into it. Image via The Verge 2/ Google's Gemini AI (formerly Bard) started offering image generation a few weeks ago and is already under fire.

Users have noted that some of the generated images are chock-full of inaccuracy, especially when it comes to race and historical events. Image via The Verge
Feb 16 9 tweets 2 min read
1/People are done paying $18 for a Big Mac combo meal.

Between 2021 and 2022, prices at limited-service restaurants spiked 8%, per the US Bureau of Labor Statistics.

Customers are fed up, and CEOs are finally taking note. Let's get into it. Image 2/ Fast-food chains hiked prices during COVID to make up for wage increases, supply-chain disruptions, etc.

But now that we're on the other side of the pandemic, consumers are tired of paying top dollar for what used to be the most affordable food options.
Feb 2 12 tweets 3 min read
The Apple Vision Pro hits stores today

A thread of the coolest use cases we've seen for the $3,500 spatial computer

1. Rodney Mullen's Skatrix

Looks fun as hell

2. NBA League Pass

Watching the Celtics lose in 4 to the Knicks in this is going to be so satisfying

Dec 20, 2023 4 tweets 1 min read
Bird just filed for bankruptcy

• Peak valuation: $2.5 billion
• Current valuation: $1.6 million

This is a company that raised over $500 million.

Truly an all-time destroyer of value. Image This should have been a sign Image
Nov 28, 2023 10 tweets 1 min read
A collection of Charlie Munger's best quotes:

1. "Those who keep learning will keep rising in life." Image 2. "You don’t have to be brilliant, only a little bit wiser than the other guys, on average, for a long time."
Aug 30, 2023 95 tweets 7 min read
It's Warren Buffett's 93rd birthday

We can't think of a better way to honor the GOAT of investing than with a memorable piece of wisdom for every year he's been alive

93 of the Oracle of Omaha's best quotes Image 1. "Rule No.1: Never lose money. Rule No.2: Never forget rule No.1."
Jun 7, 2023 6 tweets 3 min read
Remember the ship that blocked the Suez Canal in 2021, clogging a vital trade passageway for as much as 12% of the world’s seaborne trade?

Well, we may have a similar situation on our hands in the Panama Canal 👇 🧵 Panama Canal A drought at Gatun Lake, which feeds the Panama Canal, has caused water levels to drop significantly.

If it persists, it poses a threat to the recent alleviation of global delivery bottlenecks, potentially causing a surge in shipping costs, consumer demand, & goods shortages. Panama Canal
Jun 6, 2023 17 tweets 7 min read
Yesterday was the biggest day for Apple since the launch of the iPhone

• iOS17
• Vision Pro
• Spatial Computing

Here's a recap of everything that went down at #WWDC23 Image 1. Vision Pro is here

• Cost: $3,499
• 7x as much as Meta Quest 3

Listen to the crowd react to the price lol

Feb 11, 2022 5 tweets 2 min read
In a massive victory for the #MeToo movement, the Senate passed a landmark bill yesterday that bans companies from using forced arbitration to handle sexual assault and harassment cases.

A thread. The backstory:

60 million workers in the US are required by their contracts to settle any sexual misconduct case in private arbitration rather than taking it to court.
Jan 4, 2022 10 tweets 3 min read
After 50+ hours of deliberations and seven days, a jury found Theranos founder Elizabeth Holmes guilty on four charges of criminal fraud yesterday.

A thread on the trial and the woman behind it all. Holmes was convicted of three counts of wire fraud and one count of conspiracy to commit wire fraud.

She was found not guilty on four other charges and the jury couldn’t agree on a verdict for three charges.
Jan 3, 2022 5 tweets 2 min read
The 2021 stock market was bookended by meme stock mania in January and a brief Omicron scare in November and December. But in between, it was a remarkably smooth ride.

Here's a look back at the year that was for stocks. If you followed Warren Buffett’s advice and put your money in an S&P 500 index fund, you did very well for yourself last year. The broad index gained 27% in 2021 and closed at a record 70 times—the most since 1995.